Moderna (NASDAQ:MRNA) PT Lowered to $48.00

Moderna (NASDAQ:MRNA) had its target price reduced by Leerink Partners from $60.00 to $48.00 in a research report sent to investors on Tuesday morning. They currently have an underperform rating on the stock.

Several other equities analysts have also commented on the company. Oppenheimer lowered Moderna from an outperform rating to a market perform rating in a research report on Friday, September 13th. Bank of America dropped their price objective on shares of Moderna from $130.00 to $110.00 and set a neutral rating on the stock in a research note on Friday, September 13th. TD Cowen decreased their target price on shares of Moderna from $70.00 to $60.00 and set a hold rating for the company in a research note on Friday, September 13th. Barclays dropped their price target on Moderna from $155.00 to $125.00 and set an overweight rating on the stock in a research report on Monday. Finally, Hsbc Global Res raised Moderna from a moderate sell rating to a hold rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $100.44.

Moderna Price Performance

MRNA stock opened at $68.02 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.09 and a quick ratio of 3.92. Moderna has a 1 year low of $62.55 and a 1 year high of $170.47. The firm has a 50-day moving average of $91.19 and a 200 day moving average of $110.97. The company has a market cap of $26.07 billion, a P/E ratio of -4.34 and a beta of 1.68.

Moderna (NASDAQ:MRNA) last announced its earnings results on Thursday, August 1st. The company reported ($3.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.47) by $0.14. Moderna had a negative return on equity of 21.35% and a negative net margin of 116.18%. The firm had revenue of $241.00 million during the quarter, compared to analyst estimates of $128.41 million. During the same quarter in the prior year, the company earned ($3.62) EPS. The business’s revenue was down 29.9% compared to the same quarter last year. On average, sell-side analysts forecast that Moderna will post -9.52 EPS for the current year.

Insider Activity

In other news, CFO James M. Mock sold 689 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $118.24, for a total transaction of $81,467.36. Following the completion of the transaction, the chief financial officer now directly owns 7,269 shares of the company’s stock, valued at $859,486.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO James M. Mock sold 689 shares of Moderna stock in a transaction on Monday, July 8th. The stock was sold at an average price of $118.24, for a total value of $81,467.36. Following the completion of the sale, the chief financial officer now owns 7,269 shares of the company’s stock, valued at $859,486.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Hoge sold 15,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $121.12, for a total value of $1,816,800.00. Following the sale, the president now owns 1,442,089 shares of the company’s stock, valued at approximately $174,665,819.68. The disclosure for this sale can be found here. Insiders have sold a total of 93,158 shares of company stock valued at $11,167,312 in the last 90 days. 15.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Moderna

A number of institutional investors and hedge funds have recently made changes to their positions in MRNA. Ontario Teachers Pension Plan Board purchased a new position in shares of Moderna during the 4th quarter worth $1,358,000. Hobbs Group Advisors LLC purchased a new position in Moderna during the fourth quarter valued at $664,000. Illinois Municipal Retirement Fund grew its holdings in Moderna by 22.1% during the first quarter. Illinois Municipal Retirement Fund now owns 51,791 shares of the company’s stock valued at $5,519,000 after purchasing an additional 9,360 shares during the period. Swedbank AB purchased a new stake in Moderna in the first quarter worth about $3,315,000. Finally, Wellington Management Group LLP raised its stake in shares of Moderna by 28.8% in the fourth quarter. Wellington Management Group LLP now owns 7,225,579 shares of the company’s stock worth $718,584,000 after buying an additional 1,614,460 shares during the period. Hedge funds and other institutional investors own 75.33% of the company’s stock.

About Moderna

Moderna, Inc, a biotechnology company, discovers, develops, and commercializes messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the United States, Europe, and internationally. Its respiratory vaccines include COVID-19, influenza, and respiratory syncytial virus, spikevax, and hMPV/PIV3 vaccines; latent vaccines comprise cytomegalovirus, epstein-barr virus, herpes simplex virus, varicella zoster virus, and human immunodeficiency virus vaccines; public health vaccines consists of Zika, Nipah, Mpox vaccines; and infectious diseases vaccines, such as lyme and norovirus vaccines.